Each student will be given a character that they will "act out" during first semester. Each character has an occupation, annual income, home life description, monthly income and monthly expenses. Students will be paid every two weeks, and must pay their living expenses every two weeks. (Each two weeks emulates one month in real life.) Checkbooks must be balanced every two weeks, and random life events (car accidents, health copays, car oil changes, etc.) will be thrown into the mix after balancing the checkbooks for a few months. The object of the game is to save the most money. Whoever saves the most money at the end of the semester gets a prize!
The second piece of "The Game of Life" is for students to research their dream life (what kind of car they'd like to drive, what career they'd like to have, where they'd like to live, etc.), and use their dream life during the second semester to balance their finances.
This project gives students an idea of the type of lifestyle they can expect given their dream life scenario, and whether their dream life is financially possible.